Public Employees Retirement Association of Colorado Sells 5,466 Shares of 3M Co (NYSE:MMM)

Public Employees Retirement Association of Colorado decreased its position in shares of 3M Co (NYSE:MMM) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,557 shares of the conglomerate’s stock after selling 5,466 shares during the period. Public Employees Retirement Association of Colorado’s holdings in 3M were worth $18,124,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MMM. Lederer & Associates Investment Counsel CA grew its position in 3M by 2.1% in the first quarter. Lederer & Associates Investment Counsel CA now owns 2,410 shares of the conglomerate’s stock valued at $501,000 after acquiring an additional 50 shares during the last quarter. Shine Investment Advisory Services Inc. grew its position in 3M by 35.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 192 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 50 shares during the last quarter. Peoples Financial Services CORP. grew its position in 3M by 0.3% in the first quarter. Peoples Financial Services CORP. now owns 16,027 shares of the conglomerate’s stock valued at $3,330,000 after acquiring an additional 50 shares during the last quarter. Bfsg LLC grew its position in 3M by 0.4% in the first quarter. Bfsg LLC now owns 14,084 shares of the conglomerate’s stock valued at $2,926,000 after acquiring an additional 55 shares during the last quarter. Finally, Nwam LLC grew its position in 3M by 1.0% in the first quarter. Nwam LLC now owns 5,853 shares of the conglomerate’s stock valued at $1,216,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 67.55% of the company’s stock.

Shares of MMM stock traded down $3.17 during mid-day trading on Wednesday, reaching $160.14. 106,757 shares of the stock traded hands, compared to its average volume of 2,790,484. The business has a fifty day moving average price of $171.41. 3M Co has a 1-year low of $158.04 and a 1-year high of $219.75. The stock has a market capitalization of $94.04 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.34 and a current ratio of 1.93.



3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. 3M had a return on equity of 55.05% and a net margin of 15.27%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $2.59 earnings per share. Equities research analysts expect that 3M Co will post 9.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Friday, August 16th will be paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Thursday, August 15th. 3M’s dividend payout ratio is currently 55.07%.

A number of research analysts have issued reports on the company. Deutsche Bank decreased their target price on 3M from $188.00 to $183.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Gordon Haskett cut 3M from a “buy” rating to a “hold” rating and set a $191.98 target price on the stock. in a research report on Monday, April 29th. JPMorgan Chase & Co. decreased their target price on 3M from $143.00 to $140.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. Citigroup decreased their target price on 3M from $221.00 to $197.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Finally, Bank of America decreased their target price on 3M from $193.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $182.54.

In related news, insider Joaquin Delgado sold 5,400 shares of 3M stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $169.68, for a total value of $916,272.00. Following the transaction, the insider now directly owns 28,092 shares of the company’s stock, valued at $4,766,650.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Patrick Banovetz sold 1,040 shares of 3M stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $170.40, for a total value of $177,216.00. Following the completion of the transaction, the insider now directly owns 5,974 shares in the company, valued at $1,017,969.60. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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